| The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, extended its record decline for the 12th straight session on Wednesday due to concerns about demand. The Baltic dry index is down about 98 percent from its peak of 11,793 points in May 2008, marking the lowest level since the records began in 1985.
The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, fell by 1 point to 290 points. The dry bulk market is expected to remain under pressure for longer because of weak demand for commodities, particularly from top global importer China...............................................Full Article: Source
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